Over the past month, the Federal Reserve has received more than 20 applications for bank mergers and acquisitions. Two Midwest banks both announced planned acquisitions.
Horizon Bancorp announced last month a definitive agreement to acquire approximately $110 million in banking-related assets of Whiting, Ind.-based Am Tru Inc. and subsidiary American Trust & Savings Bank. In addition, Michigan city, Ind.-based Horizon will assume all $112 million in deposits and some liabilities. After the deal closes, Horizon’s assets will be around $1.4 billion.
The Federal Reserve Board reported that the following merger applications were received.
| Acquirer | Acquisition Target | Regulator | Overview |
| Bank4Texas Holdings Inc. | Northern Bancshares Inc., The First National Bank of Chillicothe | Federal Reserve Bank of Dallas | Become bank-holding company by acquiring 100%. |
| Banks, James J. | Belmont Financial Group Inc., Belmont Bank and Trust Co. | Federal Reserve Bank of Chicago | Retain 10% or more, and acquire additional voting shares. |
| Boston Private Financial Holdings Inc. | KLS Professional Advisers Group LLC | Federal Reserve Bank of Boston | Acquire remaining 19% of direct ownership. |
| City Holding Co. | First United Corp., First United Bank & Trust Co. | Federal Reserve Bank of Richmond | Acquire up to 7.5% of voting shares. |
| Clary Anthony Family Irrevocable Trust No. 101; Lynda June Anthony, Luther Clary Anthony Jr., Co-Trustees; Lynda June Anthony, Luther Clary Anthony Jr., Luther Clary Anthony Sr., individually | Citizens Bankshares of Springhill Inc., Citizens Bank & Trust Co. | Federal Reserve Bank of Dallas | Retain voting shares and acquire additional shares. |
| Colorow Investment Corp. | TBHC Inc., Centennial Bank, | Federal Reserve Bank of Kansas City | Become bank-holding company by acquiring 100% of voting shares. |
| Doskocil, Kirk | Bonifay Holding Company Inc., Bank of Bonifay | Federal Reserve Bank of Atlanta | Acquire voting shares. |
| Drayton Bancor Inc. | Walsh County Bancorporation Inc., Bank of Minto | Federal Reserve Bank of Minneapolis | Merge. |
| Elisabeth Meyer Kimmel 2009 Grantor Retained Annuity Trust 4, Elisabeth Meyer Kimmel, individually and as trustee of the Elisabeth Meyer Kimmel 2009 Granto Retained Annuity Trust 4 | First Busey Corp., Busey Bank | Federal Reserve Bank of Chicago | Join existing Meyer/Kimmel Family Control Group through acquisition of voting shares. |
| First National Management Group LLC | Amoret Bancshares, Inc., BC National Banks | Federal Reserve Bank of Kansas City | Acquiring at least 93% of voting shares. |
| Flaming, Charles B., individually, and Charles B. Flaming and Sadle Cattle Co., as a group acting in concert | Henderson State Co., Henderson State Bank | Federal Reserve Bank of Kansas City | Acquire control. |
| Florida Shores Shamrock Inc. | Shamrock Bank of Florida | Federal Reserve Bank of Atlanta | Become bank-holding company by acquiring at least 60% of voting shares. |
| GFP Financial Services Co. | First Pryor Bancorp Inc., First Pryority Bank | Federal Reserve Bank of Kansas City | Become a bank-holding company by acquiring 65.04% of voting shares. |
| James Michael Hattaway, James Lewis Hewitt, Vincent Smith Hughes, Richard Terrell McCree, David Gene Powers, Donald Franklin Wright, David McLeod | Riverside Central Florida Banking Co., Riverside Bank of Central Florida | Federal Reserve Bank of Atlanta | Collectively acquire voting shares. |
| James A. Jorgenson; Jorgenson Holding Co.; the Karen Jorgenson Trust (Karen Neidhardt and James A. Jorgenson, Trustees); Leonard M. Jorgenson; acting in concert | Bozeman Bancorp Inc., Bank of Bozeman | Federal Reserve Bank of Minneapolis | Retain voting shares. |
| Murvay, Mark A. | Clarkston Financial Corp. | Federal Reserve Bank of Chicago | Acquire more than 25% of voting shares. |
| OSK Inc. | Texico Bancshares Corp., Texico State Bank | Federal Reserve Bank of St. Louis | Become bank-holding company by acquiring 100% of voting shares. |
| TLCM Holdings LLC | EJ Financial Corp., EJ Delaware Bancshares Inc., Equity Bank SSB | Federal Reserve Bank of Dallas | Become bank-holding company by acquiring 100% of voting shares. |
| United Community Bancorp Inc. | Marine Bank & Trust, Brown County State Bank | Federal Reserve Bank of Chicago | Acquire 100% of voting shares. |
| Welker, Hans J. | Clarkston Financial Corp. | Federal Reserve Bank of Chicago | Acquire more than 25% of voting shares. |
| Zions Bancorporation, NetDeposit LLC | Creative Cash Flow Solutions Ltd. | Federal Reserve Bank of San Francisco | Acquire all assets. |
AMCORE Bank, N.A., said on Jan. 5 that it has agreed to sell 12 Illinois branches to Midland States Bank. The deal includes around $480 million in loans. It also includes $540 million in deposits and sweep accounts, acquired at a 1.5 percent premium, and up to $400 million in trust and brokerage account relationships for a $1.5 million trust account premium. The transaction is subject to regulatory approval and is expected to close in first quarter.
“AMCORE Market President Jeff Lovett and Sandi Hall, Regional Retail Sales Manager, will transition in their roles to Midland States Bank and will continue to serve customers in this region,” the statement said.
